Description

"A useful addition to the library of those who find themselves involved in factoring transactions or in advising those who may be affected by them" – Journal of International Banking Law and Regulation

Renowned for its highly practical approach to the law and practice relating to factoring and invoice finance, Salinger discusses the various forms, uses, and methods by which factoring can help businesses, and offers detailed coverage of the legal background in which these services operate. It combines a clear explanation of the law with practical guidance on its implementation. Salinger:

Looks at the origins and nature of modern factoring.

Considers the relationship and the accounting between factor and client

Explains the relationship between factor and debtors, including collection procedures and legal remedies when collection procedures fail

Examines international factoring

Looks in detail at the commonly used types of factoring agreement

Contains a selection of sample documents

Considers conflicts with third parties

Covers factoring and insolvency of the client

Looks at credit insurance and its potential affect on factoring agreements

Includes a glossary of terms.

Contents

An introduction to modern factoring of debts – its origins and nature; The application of factoring to modern business; The factor's relations with his client; The factor's relations with the debtors; Mutual reviews: the factor and the client; International factoring; The legal structure of factoring and transfer of ownership of the debts; The effect of notice to the debtor and conflicts with third parties; Set-off and the debtor's countervailing rights; The factoring agreement – payment to the client by the factor and other terms; Insolvency of the client; Special considerations for international factors; The factor's use of company charges; Factoring combined with credit insurance.